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South Korea’s Won Falls to 14-Month Low as Yen Extends Decline

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South Korea’s won fell to a 14-month low as the yen extended declines after the Bank of Japan maintained a record monetary-easing program.

The won and yen are leading losses in Asia this month, with Japan’s currency falling today after Prime Minister Shinzo Abe called an early election and postponed an increase to the nation’s sales tax. The two currencies tend to track each other because companies in the respective nations compete in similar export markets. Japan’s central bank kept a pledge to expand the monetary base at an annual pace of 80 trillion yen ($683 billion), it said in a statement today.